Luxembourg imposes reporting requirements on companies operating in blacklisted countries   The Luxembourg tax authority is the first to officially announce sanctions against jurisdictions designated by the European Union as ‘non-cooperative’ for tax purposes. Under Circular LG-A no.64, Luxembourg resident companies must state in their tax return if they have entered into transactions with ‘related enterprises’...Read More

Offshore jurisdictions protest as Netherlands puts them on blacklist The Bahamas call it “premature”, the Cayman “unjustified”, in the eyes of the Bermuda government it is “unfortunate” and the Isle of Man was caught by “surprise”. Offshore jurisdictions from all over are protesting as the Dutch puts them on blacklist. The chief minister Howard Quayle sees...Read More

British Overseas Territories’ deadline for public ownership registers slips to 2023 Britain’s Overseas Territories (OT) will not be forced to establish public registries of company beneficial ownership until 2023 at the earliest, rather than the 2020 deadline demanded by UK Members of Parliament (MPs), it has emerged. In May last year, a cross-party group of...Read More

The coming extension of the online UK Trust Registration Service (TRS) to cover express trusts without any tax consequences, under the EU Fifth Anti-Money Laundering Directive (5AMLD), is likely to extend the number of registrable trusts from around 200,000 to as many as two million, according to the Association of Taxation Technicians (ATT). The service...Read More

Tax evasion: blacklist of 21 countries with ‘golden passport’ schemes published   A blacklist of 21 countries whose so-called “golden passport” schemes threaten international efforts to combat tax evasion has been published by the west’s leading economic thinktank. Three European countries – Malta, Monaco and Cyprus – are among those nations flagged as operating high-risk...Read More